By Patrick Wingrove, Michael Erman and Maggie Fick

NEW YORK/LONDON (Reuters) -U.S. President Donald Trump’s threat to impose 100% tariffs on branded drugs ratcheted up pressure on pharmaceutical companies to agree price cuts and shift manufacturing after talks faltered earlier this year, industry lobbyists and executives said.

The squeeze produced what Trump is touting as the first big move – Pfizer on Tuesday agreed to slash drug prices in Medicaid for low-income people and for new drugs in exchange for relief on tariffs, setting a bar lobbyists say rivals may be forced to match or beat.

Pfizer CEO Albert Bourla said he would invest $70 billion in the United States, including in repatriating the manufacturing of medicines sold in the country. The deal boosted Pfizer’s shares and those

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